As NNPC withdraws as a middleman for Dangote Refinery petrol, the price of petrol at fuel stations in Lagos may rise to N991.21 per litre, N1,040.31 in Kano, and N1,007.35 in Calabar, depending on exchange rate and crude oil prices
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The Nigerian Midstream and Downstream Petroleum Regulatory Authority document, obtained from sources at the agency, provides insight into the subsidy payment differentials paid by NNPC in major Nigerian cities and what Nigerians may pay at the pump in the absence of the subsidy arrangement.Support journalism driven by facts, created by Nigerians for Nigerians. Our thorough, researched reporting relies on the support of readers like you.
In Abuja, the indicative pump price is N1,029.01 while the actual pump price is N897 per litre, meaning that the NNPC pays about N132.01 as an estimated differential. In Maiduguri, the indicative pump price is N1,059.39, while the actual pump price is N924, indicating an estimated differential of N135.39.
Sources told PREMIUM TIMES on Monday that the pump price may even be higher than estimated, depending on crude oil prices and prevailing foreign exchange rates. The lower chamber also urged Dangote Refinery’s management to build, acquire, or partner to establish tank farms or depots across the country’s geopolitical zones to ease the public’s access to petroleum products.Moving the motion, Mr Oforji explained that excluding independent marketers threatened competition in the sector.
The Dangote Group Chief Branding and Communications Officer, Anthony Chiejina, did not respond to PREMIUM TIMES when reached for comments Tuesday morning.
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